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Fintechnews Middle East

Botim and Mbank Launch UAE’s First Fintech-Integrated Jaywan Card

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Astra Tech’s flagship platform Botim has partnered with Mbank, a digital bank in the UAE, to introduce the country’s first fintech integrated Jaywan card scheme. The agreement was announced during a signing ceremony at the Dubai Fintech Summit. Through this partnership, Botim, powered by PayBy, becomes the first fintech platform in the UAE to issue […]

The post Botim and Mbank Launch UAE’s First Fintech-Integrated Jaywan Card appeared first on Fintechnews Middle East.

UAE and Saudi Arabia Lead MENA VC Increase; Fintech Remains Top Focus

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Venture capital (VC) investment in the Middle East and North Africa (MENA) continues to rebound this year, driven by a rise in smaller funding rounds, strong investor focus on Saudi Arabia and the United Arab Emirates (UAE), and sustained support for fintech. According to new data from Magnitt, a financial data platform focused on emerging […]

The post UAE and Saudi Arabia Lead MENA VC Increase; Fintech Remains Top Focus appeared first on Fintechnews Middle East.

Mastercard and Bahrain’s Tamkeen to Explore Launch of Strive Programme for SMEs

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The Mastercard Center for Inclusive Growth and Bahrain’s Labour Fund (Tamkeen) have announced a strategic partnership to explore the introduction of the Mastercard Strive programme in Bahrain. If adopted, it would mark the initiative’s first implementation in the Middle East. The proposed collaboration is aimed at strengthening financial and digital capabilities among SMEs in Bahrain. […]

The post Mastercard and Bahrain’s Tamkeen to Explore Launch of Strive Programme for SMEs appeared first on Fintechnews Middle East.

Saudi Central Bank Licenses Nayla Finance for Microfinance Operations

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The Saudi Central Bank (SAMA) has granted a license to Nayla Finance to operate in microfinance activities. According to a press release issued by SAMA, this brings the total number of finance companies licensed by the central bank in Saudi Arabia to 66. The statement highlighted SAMA’s commitment to supporting the finance sector, enhancing the […]

The post Saudi Central Bank Licenses Nayla Finance for Microfinance Operations appeared first on Fintechnews Middle East.

erad Raises $16 Million to Expand SME Financing Platform

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erad, an alternative financing platform for SMEs based in Riyadh, has raised US$16 million in a Pre-Series A funding round. The investment will support the company’s growth and expansion within Saudi Arabia and other regions. The round saw backing from a range of global and regional funds, including YCombinator, Nuwa Capital, Khwarizmi Ventures, Aljazira Capital, […]

The post erad Raises $16 Million to Expand SME Financing Platform appeared first on Fintechnews Middle East.

Saudi Central Bank Grants License to Tamawal for Finance Aggregation

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The Saudi Central Bank (SAMA) licensed Tamawal company to provide finance aggregation services. With Tamawal, six licensed companies now provide finance aggregation services in Saudi Arabia. In a press release issued by the SAMA, this decision reflects SAMA’s endeavor to support the financial sector, increase the efficiency of financial transactions, and promote innovative financial solutions […]

The post Saudi Central Bank Grants License to Tamawal for Finance Aggregation appeared first on Fintechnews Middle East.

Pemo Expands to Saudi Arabia, Partners with neoleap

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Pemo, a Dubai-based spend management platform, has officially entered the Saudi Arabian market. Backed by US$19 million in funding from international investors, the company is introducing its suite of financial tools aimed at businesses of all sizes. These include smart corporate and virtual cards, automated receipt collection, and AI-powered accounting to support expense tracking and […]

The post Pemo Expands to Saudi Arabia, Partners with neoleap appeared first on Fintechnews Middle East.

Standard Chartered Launches Direct Custody Services in Saudi Arabia

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Standard Chartered has expanded its product offering in the Middle East with the launch of direct custody services in Saudi Arabia. The service will be provided through Standard Chartered Capital Saudi Arabia, a wholly owned subsidiary of the group, licensed by the Capital Market Authority of Saudi Arabia. The new service allows clients to safekeep […]

The post Standard Chartered Launches Direct Custody Services in Saudi Arabia appeared first on Fintechnews Middle East.

Visa Launches Visa+ in Bahrain for Cross-Border Transfers via Mobile Number

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Visa has introduced its Visa+ service in Bahrain, enabling users to send money to Visa cardholders across the Gulf Cooperation Council (GCC) region using only the recipient’s mobile number. The service is currently available to customers of Bahrain Islamic Bank (BisB) and Khaleeji Bank. Bahrain is among the first markets globally to adopt Visa+. Through […]

The post Visa Launches Visa+ in Bahrain for Cross-Border Transfers via Mobile Number appeared first on Fintechnews Middle East.

London’s BKN301 Secures $23.8M for Expansion into UAE, Saudi Arabia

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BKN301 Group, a London-based fintech company specialising in Banking as a Service (BaaS) with operations across the Middle East, Europe and Africa, has completed a capital increase of US$23.8 million. The funding will support the company’s international growth plans, including potential expansion into the UAE and Saudi Arabia, as well as further development of its […]

The post London’s BKN301 Secures $23.8M for Expansion into UAE, Saudi Arabia appeared first on Fintechnews Middle East.

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